When you want to buy a property at auction and you don’t have all the necessary funds to make the full purchase price, then one of the best options you have is to take a bridging loan. This is a short term loan that you are able to take out on the auction property and pay back when it is possible to get a standard mortgage. The great thing about a bridging loan is that it can be arranged quickly. Bridging loans on auction properties can normally be arranged within days and the decision is regularly made within hours of making the first enquiry. If you have just purchased a property at auction, it is possible that you then have 28 days for completion. When you don’t have adequate equity to pay for the 10% deposit we can often rapidly give out these funds based on any other property that you own. However if you do need 100% of the purchase price we can provide you with the funds if you use another property as security.